SHYM vs. THYM
SHYM (iShares Short Duration High Yield Muni Active ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both High Yield Muni funds. Both are actively managed. A 0.55 correlation means they provide meaningful diversification when combined. SHYM charges 0.35%/yr vs 0.32%/yr for THYM.
Performance
SHYM vs. THYM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHYM achieves a 2.54% return, which is significantly lower than THYM's 4.16% return.
SHYM
- 1D
- 0.09%
- 1M
- 1.45%
- YTD
- 2.54%
- 6M
- 2.77%
- 1Y
- 5.16%
- 3Y*
- 5.54%
- 5Y*
- 1.03%
- 10Y*
- —
THYM
- 1D
- 0.53%
- 1M
- 2.22%
- YTD
- 4.16%
- 6M
- 4.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHYM vs. THYM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 2.54% | 0.50% |
THYM T. Rowe Price High Income Municipal ETF | 4.16% | 0.25% |
Correlation
The correlation between SHYM and THYM is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | 0.55 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHYM vs. THYM — Risk / Return Rank
SHYM
THYM
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHYM vs. THYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration High Yield Muni Active ETF (SHYM) and T. Rowe Price High Income Municipal ETF (THYM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHYM | THYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | — | — |
| Martin ratioReturn relative to average drawdown | 7.82 | — | — |
Loading charts...
Drawdowns
SHYM vs. THYM - Drawdown Comparison
The maximum SHYM drawdown since its inception was -22.55%, which is greater than THYM's maximum drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for SHYM and THYM.
Loading charts...
Drawdown Indicators
| SHYM | THYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.55% | -2.93% | -19.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.55% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -0.46% | -6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | — | — |
Volatility
SHYM vs. THYM - Volatility Comparison
Loading charts...
Volatility by Period
| SHYM | THYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.48% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.81% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 4.35% | -1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 4.35% | +2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.91% | 4.35% | +2.56% |
SHYM vs. THYM - Expense Ratio Comparison
SHYM has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.
Dividends
SHYM vs. THYM - Dividend Comparison
SHYM's dividend yield for the trailing twelve months is around 4.28%, more than THYM's 2.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SHYM iShares Short Duration High Yield Muni Active ETF | 4.28% | 4.55% | 4.35% | 4.35% | 4.01% | 2.97% |
THYM T. Rowe Price High Income Municipal ETF | 2.17% | 0.37% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SHYM and THYM have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for SHYM.
SHYM has the higher dividend yield at 4.28%, compared with 2.17% for THYM.
They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.35% for SHYM and 0.32% for THYM.
Find the right allocation for SHYM and THYM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer